The Central Bank of Nigeria (CBN), has said the recapitalisation of Nigerian banks is crucial to the march towards achieving a one-trillion dollar economy. CBN’s Deputy Governor, Corporate Services, Emem Usoro, said this on Monday in Abuja, at the ongoing 36th edition of the Finance Correspondents Association of Nigeria...
Central Bank of Nigeria (CBN)
The Centre for the Promotion of Private Enterprises (CPPE) has urged the Central Bank of Nigeria (CBN) to adopt a framework that minimises volatility in the customs duty exchange rate. CPPE Founder, Dr Muda Yusuf, said in a statement on Wednesday in Lagos that this would boost investors’ confidence...
The Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC) has raised the Monetary Policy Rate(MPR) by four hundred basis points to 22.75 percent from 18.75 percent. Governor of the CBN Yemi Cardoso announced this after the first MPC meeting for the year in Abuja on Tuesday. “All...
The Central Bank of Nigeria (CBN), has scheduled its first Monetary Policy Committee (MPC) meeting with Yemi Cardoso as Governor for Monday and Tuesday. Some economic experts have projected that the benchmark interest rate known as the Monetary Policy Rate (MPR) would most likely be tightened...
A Federal High Court, Abuja, on Thursday, ordered the Central Bank of Nigeria (CBN) to pay a German, Martin Gegenheimer, the sum of N63.7million and $10, 000 awarded against the Federal Government for alleged unlawful arrest and detention by the Nigerian Immigration Service (NIS). Justice Inyang Ekwo, in...
The Central Bank of Nigeria (CBN) has announced an upward review of the Price Verification System (PVS) from 2.5 per cent to 15 per cent. According to a circular by Dr Hassan Mahmud, Director, Trade and Exchange Department of the CBN, this is in a bid to check...
President Bola Tinubu has sought the confirmation of Senate for the appointment of a Chairman and Members for the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC). Tinubu’s request was conveyed in a letter addressed to President of Senate, Godswill Akpiabio and read at plenary on Wednesday....
The Central Bank of Nigeria (CBN), has assured Nigerians that its digital currency. eNaira posed no threat to financial stability. The Director, Corporate Communications Department of CBN, Dr Isa AbdulMumin said this on Monday in Marrakech, Morocco. AbdulMumin was reacting to a recent media report that raised concerns...
Emu kingdom in Ndokwa West Local Government Area on Monday joined other 67 communities in Delta to enroll into the Central Bank of Nigeria (CBN) oil palm plantation development initiative in the country. The Secretary General, Delta State Commercial Oil Palm Plantation Growers Cooperation Society Limited (DELCOM COOP),...
The Central Bank of Nigeria (CBN) on Friday unveiled a series of fresh operational guidelines for forex sales by Bureau de Change (BDC) operators in the country. This is coming more than two years after the suspended CBN governor, Godwin Emefiele, announced the suspension of foreign exchange sales...
As the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) prepares for its July meeting, some financial experts have called for moderation in its policy decisions. The News Agency of Nigeria (NAN) reports that the CBN has announced that the 292nd meeting of the MPC...
The Nigeria Data Protection Commission (NDPC) says it engaging the Central Bank of Nigeria (CBN) on its new directives to commercial banks to collect their customers’ social media handles. The National Commissioner of NDPC, Dr Vincent Olatunji, said this in a statement issued by Mr Itunu Dosekun, Head of...
The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) on Tuesday extended the ultimatum issued to Central Bank of Nigeria (CBN) to make naira available in commercial banks by two weeks. The two organisations had earlier threatened in a one-week ultimatum to picket all branches of the...
The Manufacturers Association of Nigeria (MAN), has urged the Federal Government to dialogue with the NLC on its planned picketing of Central Bank of Nigeria (CBN) offices nationwide. The News Agency of Nigeria (NAN) reports that President of the Nigeria Labour Congress (NLC), Joe Ajaero on Wednesday directed workers...
The Central Bank of Nigeria (CBN), has disbursed N12.65 billion to the Anchor Borrowers Programme (ABP), its flagship agriculture intervention scheme from January till date. The CBN Governor, Mr Godwin Emefiele said this on Tuesday in Abuja, when he read the communique issued at the end of the 290th...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), has increased the Monetary Policy Rate (MPR) to 18 per cent from 17.5 per cent. The CBN Governor, Mr Godwin Emefiele said this on Tuesday when he read the communique issued at the end of the 290th...
The Central Bank of Nigeria (CBN) has ordered commercial banks across Nigeria to start receiving old N200, N500 and N1000 notes. This was disclosed by Governor Chukwuma Soludo, the Anambra State Governor, via a post on his Facebook page on Monday. He noted that the CBN governor, Godwin Emefiele,...
A Constitutional Lawyer, Mr Kayode Ajulo, has said that any attempt by the Central Bank of Nigeria (CBN) to disobey the Supreme Court judgment on the legality of the old N200, N500 and N1,000 will amount to a treasonable felony. Ajulo told the News Agency of Nigeria (NAN) in...
A lawmaker in Ondo state, Mr Sunday Olajide, has described as “choking’’ and pain inflicting the Central Bank of Nigeria (CBN) redesigned naira note policy introduced late last year. Olajide, a member of the Ondo State House of Assembly, representing Akure South Constituency 2, in a statement made available...